User Pays $3.1M in Fees for a Bitcoin Transaction

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An unidentified individual made a record-setting fee payment of 83.65 BTC ($3.1 million) while transferring 55.77 BTC ($2.1 million) on November 23.

This is the highest reward ever received by miners in dollars when confirming a transaction.

The transaction occurred at 9:59 UTC, with the sender overpaying by 120,528 times and ending up with a zero balance.

The current average fee on the Bitcoin network is 0.00028 BTC ($10.51) according to BitInfoCharts.

The user’s wallet was created on November 23 and had made three previous transactions before paying the record fee. The receiving address was also recently created on October 16.

According to Blockchair, the transaction was carried out in block #818,087 and was mined by AntPool. There has been no comment from AntPool representatives regarding the transaction.

In September, blockchain company Rahos mistakenly paid a commission of 19.82 BTC ($510,750) to miners for a transfer of 0.074 BTC. After conducting necessary checks, F2Pool returned the bitcoins to the company.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.